oneworld

Cathay Pacific is studying a bid for stakes in two smaller Hong Kong airlines backed by embattled Chinese conglomerate HNA Group, people with knowledge of the matter said. Cathay Pacific has held preliminary talks with HNA about acquiring minority stakes in Hong Kong Express Airways and Hong Kong Airlines. A couple of local tycoons have also been considering investments in Hong Kong Airlines. HNA has already trimmed one of the country’s biggest debt piles by selling off dozens of assets from hotels to stakes in aircraft leasing companies. Its plan to sell almost a third of its stake in Hong Kong Airlines was held up last year after the sudden death of HNA co-chairman Wang Jian. The suitors’ discussions with HNA have been progressing slowly, and there’s no certainty they will result in a transaction, said the people. <br/>

Oneworld says it is not in any “active discussions” with China Southern Airlines about joining the alliance, and that it feels “no pressure” to add a mainland Chinese carrier into the grouping. The alliance's CE Rob Gurney says that it has always been “very flexible” in allowing members to partner with airlines outside the grouping. “We recognise that we’re the smallest alliance and we recognised a long time ago that to try and force all members to work exclusively with other Oneworld members is just impractical.” He made the comment in response to a question about some of its members collaborating with China Southern, which dropped out of SkyTeam at the beginning of the year. Gurney adds that its members are already partners with the 3 big mainland Chinese carriers. <br/>